Question

is wealth tax a national income? Give reason?​

Answer 1

Answer:

What Is Wealth Tax?

Wealth tax is a tax based on the market value of assets owned by a taxpayer. Although many developed countries choose to tax wealth, the United States has historically relied on taxing annual income to raise revenue. Recently, however, the immense and increasing disparity in wealth in the United States—as of 2018 the wealthiest 10% owned 70% of the country’s wealth while the richest 1% owned 32%, according to the Federal Reserve Board—prompted politicians such as Bernie Sander and Elizabeth Warren to propose a wealth tax , in addition to the income tax, in the run-up to the 2020 Presidential election. In March 2021, Senator Warren introduced S. 510, a revised version of her earlier proposal, to impose a tax on the net worth of very wealthy individuals.

Answer 2

Answer:

I hope this answer help you